Offshore South Africa Latest Information

Offshore South Africa Latest Information

S.Africa moots mining wealth fund to cap rand gains
JOHANNESBURG (Reuters) - South Africa's ruling ANC is considering starting a sovereign wealth fund from proceeds of a proposed new mining tax that could be used to intervene in the market to cap gains in the rand currency in times of a commodity boom. Such a move would be a departure from current policy under which the Reserve Bank does not actively intervene in the market to target a level for ...

S.Africa's rand down 1.8 pct vs dlr, likely correcting
JOHANNESBURG (Reuters) - South Africa's rand lost nearly 2 percent against the dollar on Monday, retreating further from last week's 5-month highs as investors used delayed debt talks in Greece to take profits on a currency some said had rallied too quickly. The rand weakened to 7.6540 compared to a close of 7.52 in New York on Friday. Markets were keeping a close eye on a meeting of Greece's ...

Strong demand at S.Africa auction pushes down yields
JOHANNESBURG (Reuters) - Strong demand at South Africa's weekly debt auction pushed yields lower on Tuesday, with dealers saying offshore investors were the likely buyers. The National Treasury offered and sold 1.1 billion rand of 2017 paper at a lower yield, after receiving 4.95 billion rand worth of bids for the bond. The 5-year bond cleared at a yield of 7.3 percent, down from 7.47 percent at ...

South Africa-San Marino DTA Enters Into Force
The tax information exchange agreement (TIEA) between South Africa and San Marino, which was originally signed in Pretoria on March 10 last year, entered into force on January 28, 2012.

Mine Nationalization Will Be Unmitigated Economic Disaster, ANC Study Says
A study commissioned by South Africa’s ruling African National Congress said nationalizing the country’s mines would be disastrous and increased taxes on the industry should be considered instead.

Currencies Direct: South Africa to Benefit From Forex and Payment Pioneers
LONDON, January 24, 2012 /PRNewswire/ --Currencies Direct have always been market leading innovators in the global payments industry. From small beginnings in the UK in 1996, chairman and founder Mayank ...

Offshore: pros and cons
Most South African investors looking to diversify will choose to include offshore assets in their portfolio.

Nigeria oil line on fire; militants claim attack
An Eni SpA oil pipeline ruptured and caught fire as a militant group claimed responsibility for an attack in the region, their first alleged assault in months as its purported leader awaits trial on terrorism charges in South Africa.

Eni SpA oil pipeline on fire in Nigeria's crude-rich southern delta as militants claim attack
LAGOS, Nigeria - An Eni SpA oil pipeline ruptured and caught fire as a militant group claimed responsibility for an attack in the region, their first alleged assault in months as its purported leader awaits trial on terrorism charges in South Africa.

Afren PLC - Exploration drilling commences offshore Ghana
Afren plc (AFR LN) Exploration drilling commences offshore Ghana London, 6 February 2012 - Afren plc ("Afren" or the "Company") announces that operator Eni Ghana exploration and production ...

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